Federal Government to probe and overhaul civil Service Payroll

President Bola Tinubu has said a comprehensive forensic audit of the Central Bank is underway, adding that a thorough overhaul of the civil service payroll was imminent.

He added that his administration was going to block all financial loopholes to make the country more attractive to foreign investors.

The President disclosed this during an audience with the President of the World Bank, Ajay Banga, on Friday at the Presidential Villa, Abuja, as disclosed in a statement by his Special Adviser of Media and Publicity, Ajuri Ngelale.

‘’A comprehensive forensic audit is ongoing at the Central Bank. We are going to do a very serious structural review of the civil service payroll. I cannot believe in the numbers I’m seeing and I’ve had that experience before at the state level.

’The reforms are in tandem with Nigeria’s Ease of Doing Business programme. We’ll block all financial loopholes. The reforms will be targeted at the way we work, change of attitude and equally on educating our people. It’s costly but we will do it,’’ he said.

He also requested the World Bank’s support in addressing the challenges posed by the removal of cross-sectoral subsidies, particularly in lessening the impact on less privileged Nigerians.

Highlighting Nigeria’s resilience and intellectual prowess, the President implored the Bretton Woods institution to view the country as a significant player within the global community, not solely as a struggling economy.

‘‘We stand as a vibrant and educated society, seeking to avert chaos through strategic interventions. Your proactive engagement aligns with our quest for partnership, and together, we shall pursue mutual benefits that enrich us all,’’ he said.

He also discussed the ongoing efforts to address issues such as subsidy removal, foreign exchange mismanagement, exchange rates, inflation, liquidity, and debt management.

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